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Friday - April 22, 2016

Covestro aims to halve CO2 emissions by 2025

Company announces ambitious sustainability targets on Earth Day

Covestro has set ambitious sustainability targets for itself. Today on Earth Day, the company has announced that it intends to reduce its specific CO2 emissions per ton of product by 50 percent based on a base line of 2005. It joins global governments, civil society and forward-looking private sector businesses in supporting the results of the COP21 United Nations Climate Conference and making a commitment to the United Nations Sustainability Development Goals.

“We are very fortunate to have a Board that has a desire to push the sustainability agenda,” said Covestro’s chief sustainability officer, Richard Northcote. “This is also closely tied to the future development of our company. Our business model is oriented on the constant development of sustainability solutions, for that is precisely what the markets are looking for.”

Covestro has long been developing solutions for greater energy efficiency. One example are lightweight materials for automobiles that help to reduce fuel consumption. Another focal point are polyurethane insulating materials for the thermal insulation of buildings and the cold chain. All of these developments contribute to a significant reduction of CO2 emissions. This maxim also applies to Covestro itself.

Northcote is confident that the company can achieve its new climate targets by the deadline. “We set our first target of a 20 percent reduction of CO2 emissions in 2005 and hit this within six years. We then set a target of 30 percent and achieved that within three years. The next target was 40 percent, and, while we are still on the home stretch, we are already planning for a new record.”

Northcote, who is currently accompanying the Solar Impulse team en route from Hawaii Moffett Airfield in California, added that ambitious emissions targets are important not only with respect to climate protection, but also for driving the business.

About Covestro:
With 2015 sales of EUR 12.1 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and as of the end of 2015 employed approximately 15,800 people (full-time equivalents).

Find more information at www.covestro.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available on the Covestro website at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.